Dealing with constant calls from debt collectors is overwhelming. Taking control of the situation is the only way to achieve relief.
Knowing your options is the first step in getting the harassment to stop. There are several actions you can take to end the headache.
Understand your rights
The Fair Debt Collection Practices Act sets rules that debt collectors must follow. To begin, they may not call you before 8:00 in the morning or after 9:00 at night without your permission. Further, they cannot make false statements about the debt or use social media to shame you into paying. When a collector crosses these lines, it may be time to take legal action and demand the calls halt.
Verify the debt
Collectors could be calling you in error. Check that the obligation is yours by requesting a verification letter. This document should detail specific amounts owed, the creditor’s name and how to dispute the debt. Callers must then cease contact until you have this information.
Communicate in writing
Interacting with debt collectors by mail creates a record that can be extremely valuable. If you choose to fight the debt, each letter creates a trail of proof. Send letters by certified mail with a return receipt for confirmation of delivery.
Build a budget
If the debt is legitimate, design a strategy for paying it off. This might involve cutting unnecessary expenses or finding ways to increase your income. Also, presenting a realistic payment plan to collectors will show that you are making moves to settle the debt.
Get help
Should collectors ignore the rules or the owed amount be overwhelming, seek advice from a nonprofit credit counseling agency. Besides giving tips on how to move forward, these organizations can often negotiate with creditors on your behalf. The ultimate solution may be to declare bankruptcy.
Although dealing with collectors is stressful, the problem is survivable. Solutions exist for getting the phone to stop ringing that present less trouble than you might think.